- Increases Earnings per Share to $0.51 from $0.21
- Exceeds Target for $400 Million STEP Change Cost Savings
- Wins Large Asian Business and Expands VW Group Award to $1.6 Billion
- Grows Scalable Platform to $3.5 Billion; Backlog of Awarded Business at $13 Billion
STAMFORD, CT – Harman International Industries, Incorporated, the leading global audio and infotainment group (NYSE: HAR), today announced results for the third quarter ended March 31, 2011. Net sales for the quarter were $948 million, an increase of 13 percent compared to the same period last year. Third quarter operating income was $54 million, an improvement of $27 million compared to the same period last year. Earnings from continuing operations per diluted share were $0.51 for the quarter compared to $0.21 in the same period last year. On a non-GAAP basis, earnings per diluted share from continuing operations were $0.60 compared to $0.27 in the same period last year.
Download the full earnings release: http://investor.harman.com/releasedetail.cfm?ReleaseID=572760